Private Advisor Group LLC Acquires 34,061 Shares of CION Investment Co. (NYSE:CION)

Private Advisor Group LLC lifted its position in shares of CION Investment Co. (NYSE:CION) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 651,505 shares of the company’s stock after acquiring an additional 34,061 shares during the period. Private Advisor Group LLC owned approximately 1.22% of CION Investment worth $7,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CION. Cetera Investment Advisers lifted its holdings in shares of CION Investment by 2,340.1% during the 1st quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock worth $5,765,000 after acquiring an additional 502,651 shares during the period. Alpine Global Management LLC increased its position in CION Investment by 143.6% during the 1st quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock worth $6,966,000 after purchasing an additional 373,297 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in CION Investment during the 2nd quarter worth approximately $2,250,000. Strong Tower Advisory Services increased its position in CION Investment by 1,469.2% during the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after purchasing an additional 183,696 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in CION Investment by 32.5% during the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after purchasing an additional 170,635 shares in the last quarter. Institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer assumed coverage on shares of CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

CION Investment Stock Performance

Shares of NYSE CION opened at $11.90 on Friday. CION Investment Co. has a 52-week low of $9.65 and a 52-week high of $12.69. The firm has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $11.98. The stock has a market cap of $637.44 million, a P/E ratio of 4.88 and a beta of 1.18.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. The firm had revenue of $61.36 million during the quarter. Analysts predict that CION Investment Co. will post 1.77 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 12.11%. The ex-dividend date was Tuesday, September 3rd. CION Investment’s dividend payout ratio (DPR) is presently 59.02%.

About CION Investment

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.